CDPQ Struggling to Deploy $7 Billion For Energy Transition?
Ishika Mookerjee and Sheryl Tian Tong Lee of Bloomberg report Quebec pension struggles to deploy $7 billion for energy transition: One of Canada’s biggest pension funds says it hasn’t been able to deploy the CAD 10 billion ($7.3 billion) it earmarked for energy transition investments, partly because it finds Asian governments’ long-term plans and support inadequate. “Particularly in this part of the world, there are a lot of governments who are jumping and saying that, ‘We’ve got a lot of energy transition needs,’” said Wai Leng Leong, head of Asia-Pacific at Caisse de Depot et Placement du Quebec at the FT Future of Asset Management Asia event in Singapore Wednesday. “But when we say energy transition, we want complete accountability and that has to be there for 20, 30 years.” It takes a long time to wind down polluting businesses and replace them with clean alternatives, she said, which requires “a lot of government support in engaging the local community.” Transition